Instant Payments: Enhancing The iGaming & Sports Betting Experience

Instant Payments: Enhancing The iGaming & Sports Betting Experience cover

Instant Payments: Enhancing The iGaming & Sports Betting Experience

May 7, 2024

With the growth of innovative technology, convenience has become an important factor for consumers looking for different services or solutions. For example, whether it’s ordering food online or streaming your favourite shows, people want things to happen quickly and easily. This need for speed and efficiency extends to the world of iGaming and sports betting, where instant payments are transforming how players interact with their favourite platforms.

So, what exactly are instant payments? Simply put, they’re transactions that happen in real-time. When you deposit money into your gaming account or withdraw your winnings, you don’t have to wait days for that transaction to complete. With instant payments, your money is there within seconds.

Why are instant payments such a big deal? A report by Truelayer found that in Europe’s online gaming industry, payments are crucial for players choosing a gaming site. Fast payouts are especially important, with 8 in 10 players prioritizing them when picking a provider. So think about it this way: imagine you’re watching a big sports game and you want to place a bet. With traditional payment methods, you might have to wait for your deposit to go through before you can bet. That’s precious time wasted, and you might miss the opportunity altogether. But with instant payments, you can make your deposit and place your bet in a matter of seconds, so you never have to miss a moment of the action.

In Canada, payment processors such as Paramount Commerce are leading the way in offering instant payment solutions for iGaming and sports betting platforms. With options such as INTERAC® and Instant Bank Transfer, players can deposit funds into their accounts instantly and securely. These solutions also offer features like One-Click Repeat Deposits and in-game deposits, ensuring users can quickly add funds to their accounts without disrupting their gaming experience. Equally crucial are instant withdrawals, fostering loyalty by providing players with immediate access to their winnings through INTERAC.

Instant payments don’t benefit the players alone. By offering instant payments, iGaming and sports betting merchants attract more players and keep them coming back. After all, who wouldn’t want to play on a platform where they can deposit and withdraw money quickly and easily?

But it’s not just about speed. Instant payments right to a bank account also enhance security. With traditional payment methods, there’s always the risk of fraud or identity theft. But with instant payments, the transaction is processed securely and instantly, so you can play with peace of mind knowing that your money is safe. Additionally, withdrawals are an important component in the instant payment process. With Paramount Commerce’s instant verified withdrawals, users can securely withdraw funds from their chosen bank account using online banking. This method ensures swift and secure transactions, regardless of the initial deposit method. It not only streamlines withdrawals but also enhances security. 

Instant payments are making the iGaming and sports betting experience better. They make transactions faster, more convenient, and more secure for players, while also benefiting the merchants themselves. So, the next time a player is considering placing a bet or trying your platform’s casino games, remember the power of instant payments and how they enhance the gaming experience for everyone involved.

Want to learn more about instant payments? The Paramount Commerce team is attending the 2024 SBC North America event. The event is May 7 – 9, 2024 at the Meadowlands Exposition Center, New Jersey. So come by and say hi to our team. Set up a meeting with our team today:

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